Brokers are bullish on these ASX shares…
The post Brokers name 3 ASX shares to buy today appeared first on The Motley Fool Australia. –
It has been another busy week for Australia’s top brokers. This has led to the release of a large number of broker notes.
Three broker buy ratings that have caught my eye are summarised below. Here’s why brokers think these ASX shares are in the buy zone:
Amcor CDI (ASX: AMC)
According to a note out of Macquarie, its analysts have upgraded this packaging company’s shares to an outperform rating with an improved price target of $16.56. Macquarie made the move partly on valuation grounds after recent softness in the Amcor share price. In addition, the broker expects Amcor’s full year result in FY 2021 to be strong, with further growth being recorded in FY 2022. And with Amcor generating significant free cash flow each year, the broker sees opportunities for the company to make bolt-on acquisitions. The Amcor share price is fetching $15.40 today.
Nanosonics Ltd (ASX: NAN)
A note out of Morgans reveals that its analysts have retained their add rating but trimmed their price target on this infection prevention company’s shares to $6.57. According to the note, the broker is pleased with Nanosonics’ plans to launch a new digital platform, AuditPro. However, Morgans already had a new product launch built into its forecasts, so no real changes have been made to its estimates. Nevertheless, it remains positive on its outlook and continues to rate it as a buy. The Nanosonics share price is trading at $5.68 this afternoon.
Telstra Corporation Ltd (ASX: TLS)
Analysts at Ord Minnett have retained their buy rating and lifted the price target on this telco giant’s shares to $4.25. This follows news that the company has agreed to sell a 49% stake in InfraCo Towers for $2.8 billion. In addition to this, the broker believes that Telstra’s head start with its 5G rollout leaves it well-placed in the mobile market. It suspects the company could make market share gains with lucrative postpaid subscriptions because of this lead. The Telstra share price is fetching $3.77 on Friday.
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Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of and has recommended Nanosonics Limited. The Motley Fool Australia owns shares of and has recommended Amcor Limited, Nanosonics Limited, and Telstra Corporation Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.